Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Development

Lynn Valley Gets New Tower Plan

The controversial redevelopment of the Lynn Valley Centre is back with a fresh face, ready for a new round of public vetting.

Under Bosa Development Corporation’s new plan, presented at an informal meeting at the mall on Thursday night, the developer is looking to build 379 new condo units in seven buildings, including two 12-storey towers with ground level commercial storefronts, an eight-storey tower and a series of four-to six-storey lowrises.

Bosa’s previous proposal envisioned 14-and 22-storey residential towers along with two six-storey buildings, bringing 439 units of housing.

“I heard loud and clear what people wanted was a mountain village and a mountain village is what I’m trying to deliver,” said Mark Sager, Bosa’s point man for the project and former West Vancouver mayor. “It is not finished. This is not a formal public information meeting. This is not part of the formal process at all. It is simply: ‘Here’s where I’m at. Here are my thoughts. What do you think so far?'” Many aspects of the plan are preliminary and liable to change at council’s discretion, Sager said. But with the Bosa towers being shorter than the nearby Kiwanis Lynn Manor and the proposal coming well under the density allowed in the official community plan, he feels they are on the right track.

Read more at: http://www.nsnews.com/news/lynn-valley-gets-new-tower-plan-1.623213#sthash.9hA5vnay.dpuf

September 16, 2013by david.taylor@colliers.com
Development

Concert Unveils Plans for SEFC Site

Concert Properties has submitted a rezoning application for their site in Southeast False Creek, directly East of The Village. Concert_SEFC

The proposal includes:

  • a waterfront park, greenway/bikeway paths, an internal street network
  • five residential buildings consisting of one 18-storey building, two 15-storey buildings, one 14-storey building, and one 12-storey building
  • a total density of 624,522 SF including 519,595 SF of market residential in four buildings and 104,927 SF of non-market affordable rental units
September 13, 2013by david.taylor@colliers.com
Development

Mayor Says Grandview-Woodland Plan Could be ‘Delayed Significantly’

When it comes to controversial neighbourhood plans, especially in Grandview-Woodlands, Vancouver Mayor Gregor Robertson says the city has shifted gears to listen to the public.

“Certainly with Grandview-Woodland and Marpole, I’ve said clearly we’re not going forward with the current timeline,” Robertson said to reporters at a Wednesday launch event for the city’s online public engagement tool, Talk Vancouver.

City council is expected to decide on Sept. 25 whether to extend the community plan, along with three other community plans underway in Marpole, the West End and the Downtown Eastside.

“I think we’ll see Grandview-Woodland delayed significantly and a lot more work, back to the drawing board, to make sure that voices are heard and that we shape the plan for the long-term of that neighbourhood as best as possible,” Robertson said.

Read more: http://metronews.ca/news/vancouver/792663/vancouver-mayor-says-grandview-woodland-plan-could-be-delayed-significantly/

September 12, 2013by david.taylor@colliers.com
Development, Office

Great West Life Proposing 32-Storey Office Tower on Seymour

Great West Life has applied to the City of Vancouver to rezone a parkade at 753 Seymour Street (next to Vancouver Centre) for an office tower.

753 Seymour

The proposal would allow for a 32-storey building with:

  • 336,186 SF of office space with ground floor retail space
  • 4 levels of above grade parking and six levels of underground parking
  • a total density of 15 FSR (after inclusion of the existing buildings)
  • a total height of 403.5 ft

753 SeymourMore information here: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/753seymour/index.htm

September 12, 2013by david.taylor@colliers.com
Development

Pearson Concept Ready For Its Closeup

The fourth and final draft concept for potential redevelopment of the Pearson Dogwood Lands, located at 59th Avenue between Heather and Cambie streets, will be unveiled at open houses Sept. 12 and 14.

 

Pearson
Vancouver Coastal Health owns the 25-acre site. It envisions a mixed-use development, which will include health care housing and related services, housing, community amenities and park space. Building heights could range from three to 28 storeys. Towers would be clustered along Cambie Street and the northeastern portion of the site. The concept also includes a new transit station at West 57th and Cambie on the Canada Line.

 

The City of Vancouver is working on a planning program with VCH, which will produce a policy statement that will guide redevelopment. City staff expect to bring the policy statement to council for approval in December or early next year. If council approves it, VCH can file a rezoning application.

 

Initial open houses were held last January, followed by another set in June when three redevelopment options were presented. The best ideas were consolidated into the fourth concept being released at this week’s open houses, explained Brad Foster, the real estate consultant for VCH who’s working on the project.

 

See more at: http://www.vancourier.com/news/developing-story-pearson-concept-ready-for-its-closeup-1.619217
September 11, 2013by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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